Financial Aid at Pepperdine

Institutional scholarships are awarded based on merit, academic achievement, leadership, or specific talents. Scholarships do not require repayment. Most schools within Pepperdine offer institutional merit scholarships at the time of admission. Students are also encouraged to pursue outside scholarships which can be applied to tuition, food, housing, and fees. 

Grants are typically need-based forms of aid that do not require repayment. Eligibility is determined by the Free Application for Federal Student Aid (FAFSA). Many schools within Pepperdine offer institutional need-based grants at the time of admission.

Beyond institutional need-based grants, students who submit the FAFSA may qualify for Federal and State assistance. Examples of such programs include the Federal Pell Grant and the California Cal Grant. All students are advised to complete the FAFSA, regardless of their perceived eligibility for Federal or State aid.

The Federal Work-Study program provides support for part-time jobs for undergraduate and graduate students with financial need, allowing them to earn money to help pay education expenses. To qualify, students must submit the FAFSA and be offered Federal Work Study (FWS) as part of their award. The program offers on-campus and approved off-campus jobs, often encouraging community service and work related to the student's field of study.

The Student Employment Office supports students in the FWS program, the Pepperdine Work Program (PWP). Students who do not receive FWS or PWP can also pursue part-time on-campus employment opportunities. 

When scholarships, grants, and personal savings do not cover the full cost of attendance, student loans can bridge the gap. Eligible students are encouraged to first pursue federal direct loans, federal PLUS loans (up to the borrowing threshold), and finally, explore private lending options. 

Subsidized loans are available to undergraduates with financial need (the government pays the interest on subsidized loans while students are in school). Unsubsidized loans are available to both undergraduate and graduate students, regardless of financial need. We highly recommend pursuing federal loan options first, due to the fixed interest rates and flexible repayment plans.

Note for Graduate Students: Due to the OBBBA legislation, aggregate limits for Graduate/Professional Federal Direct Unsubsidized loans are now strictly capped. Please consult your specific school's financial aid office to check your lifetime borrowing threshold.

Federal Direct Parent PLUS Loans are for the parents of eligible undergraduate students. Due to the recent OBBBA legislation, there is a $20,000 per year cap per dependent student and a $65,000 aggregate limit per dependent student. 

Grad PLUS loans are credit-based federal loans for graduate students. Due to the recent OBBBA legislation, new graduate students are ineligible for these loans. Returning students, please consult your specific school’s financial aid office to assess eligibility. 

Private education loans are offered by banks, credit unions, and state-based non-profit lenders. These loans require a credit check, and a creditworthy co-signer is highly recommended (and often required) to secure the best interest rates. When choosing a private lender, we encourage you to ask the following questions:

• What is the interest rate? Is it fixed or variable?*
• What fees must be paid and when are they due?
• What are the repayment terms? Is there a grace period? Are there deferment or forbearance options?
• What will my monthly payment be?
• Do I need to be admitted to a degree or certificate program?
• Do I need to be enrolled at least half-time?
• Is there a satisfactory academic progress requirement?
• Can the loan be applied to cover a balance from past periods of enrollment? 

*We encourage you to consider the rate you are offered, not the advertised interest rate.

Several states offer alternative loan programs specifically for its residents. If you are a resident of one of these states, be sure to review the alternative loan information by clicking on the state name:

Alaska
Connecticut
Iowa
Maine
Massachusetts
Minnesota
North Dakota
New Jersey
Rhode Island

Pepperdine’s Financial Aid Committee has carefully vetted the following lenders. These lenders are the most commonly selected by Pepperdine students and have competitive interest rates, borrower benefits, customer service, and technology integration with our financial aid systems.

Pepperdine students are not  limited to these Preferred Lenders, and there is no penalty for obtaining private education loans from a lender not identified as a Preferred Lender. Pepperdine’s Financial Aid Committee reevaluates its list of Preferred Lenders annually to ensure that these lenders offer the competitive and advantageous loan options and quality of service for Pepperdine students and their families.

• Sallie Mae
• CollegeAve
• SoFi
• MEFA
• Earnest
• Citizens
• Ascent

You can compare private loans from multiple lenders using Pepperdine’s FASTChoice tool. This portal displays a neutral list (in random order) of every private lender that Pepperdine students have successfully borrowed from over the past three years. It is a useful mechanism to compare APRs, repayment terms, and borrower benefits side-by-side. 

Pepperdine does not prefer, recommend, promote, endorse, or suggest any of these lenders.

International students are not eligible for U.S. federal aid. However, international students can access private education loans through the FASTChoice portal if you apply with a creditworthy U.S. citizen or permanent resident co-signer. Certain specialized lenders on our Preferred List may offer non-co-signed loans based on alternative underwriting criteria.